Shenzhen University plans to spend 533m yuan on student housing building purchase

Shenzhen University planned to spend up to 533 million yuan (HK$619.91 million) on the purchase of an entire private building for student accommodation, aiming to ease the dormitory shortage in the mainland.

Previously, the university proposed to rent properties in a luxury residential community in Nanshan District for student housing, where each unit is valued at an average of 8 million yuan, while homeowners in the community expressed concern about the potential decline in home prices and over-occupied public services.

Shenzhen University said in a filing that the property must have a property certificate or be pre-sold with delivery by June 2027, requiring the entire building to be fully fitted out and equipped with living supplies.

The building should also be located within a distance of no more than 8 kilometers from its Yuehai and Lihu campuses, measuring a floor area of not less than 22,500 square meters that could house at least 1,500 people. 

After the National Development and Reform Commission and other departments encouraged universities to purchase or lease surrounding community housing to expand dormitory supply, some universities in the mainland, such as Hubei University and Central South University, have already seen similar moves.

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